The Timken Company (NYSE:TKR) Given Consensus Recommendation of "Hold" by Brokerages

Shares of The Timken Company (NYSE:TKR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $78.50.

A number of research analysts have recently commented on TKR shares. Oppenheimer cut their target price on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group dropped their target price on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. DA Davidson boosted their price target on shares of Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Morgan Stanley cut their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Bank of America raised Timken from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th.

Institutional Trading of Timken

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its position in shares of Timken by 108.8% in the first quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock worth $132,372,000 after buying an additional 959,672 shares during the last quarter. Channing Capital Management LLC increased its position in Timken by 631.7% in the first quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company's stock worth $77,883,000 after purchasing an additional 935,554 shares during the period. Norges Bank acquired a new position in Timken in the fourth quarter valued at about $42,748,000. Millennium Management LLC increased its holdings in shares of Timken by 1,421.1% in the fourth quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock worth $32,737,000 after acquiring an additional 428,545 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after acquiring an additional 320,354 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Price Performance

Shares of TKR stock traded up $2.34 during trading on Friday, hitting $70.80. The company had a trading volume of 480,168 shares, compared to its average volume of 569,488. The stock's 50-day moving average is $67.00 and its two-hundred day moving average is $73.17. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. Timken has a 52 week low of $56.20 and a 52 week high of $90.49. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 earnings per share. As a group, analysts predict that Timken will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 1.98%. Timken's payout ratio is 30.17%.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.